- Lynx Global (LYNX) has formally closed its acquisition of Australia-based Arkin Technologies
- Lynx has acquired a 51-per-cent equity interest in Arkin
- The company issued an aggregate of 1,114,364 common shares of Lynx and 250,000 share purchase warrants at a price per share of $1.17
- Lynx Global is down 2.42 per cent on the day, with shares of the company trading at $1.21 at 10:24 am ET
Lynx Global (LYNX) has formally closed its acquisition of Australia-based Arkin Technologies. Lynx has acquired a 51-per-cent equity interest in Arkin.
The company issued an aggregate of 1,114,364 common shares of Lynx and 250,000 share purchase warrants entitling the acquisition of an additional 250,000 common shares at a price per share of $1.17 in exchange for the 51 per cent equity interest in the issued and outstanding common shares of Arkin.
The warrants are exercisable for a period of two years from the closing date of the transaction. The acquisition does not constitute a fundamental change for the company and does not result in a change of control of the company. Arkin is an Australian Transaction Reports and Analysis Centre (AUSTRAC) registered holder of a Digital Currency Exchange Service Provider and Remittance License in Australia. It provides Lynx Global with the capability to operate as a licensed digital currency business active in the exchange and trade of cash for digital (crypto) currency, and digital currency for cash (FIAT).
Services can be offered domestically in Australia, but may also be through the integrated international remittance and cryptocurrency trading network infrastructure that the company is presently establishing in the ASEAN and Oceania region.
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions, and other B2B industry partners by way of integration to the Lynx digital payment platform.
Lynx Global is down 2.42 per cent on the day, with shares of the company trading at $1.21 at 10:24 am ET.